One such provision is the doubling of the federal estate tax exemption.
This creates new opportunities for dynastic trusts. It could also impact what some people might have done with their current estate plans, and they might want to revisit those plans.
Changes were also made to the state and local tax deduction. In states with high taxes, many people are going to want to get trusts to limit their tax liability.
Just because not everything is certain about the income tax effects of the new tax laws, does not mean that you should wait to change your estate plan.
Get in to see an estate planning attorney, so your plan can be reviewed and revised as necessary.
